On April 2, the NCUA announced that a financial institution agreed to settle allegations related to mortgage-backed securities issued to certain corporate credit unions. The NCUA has alleged on behalf of failed corporate credit unions that certain MBS issuers made numerous misrepresentations and omissions in MBS offering documents regarding adherence to the originators’ underwriting guidelines, which supposedly concealed the true risk associated with the securities and routinely overvalued them. When the allegedly risky securities lost value, the NCUA claims, the credit unions were forced into conservatorship and liquidated as a result of the losses sustained. In this settlement, the institution did not admit fault but agreed to pay $165 million to avoid threatened litigation. The settlement adds to the $170.75 million the NCUA already has obtained from four other institutions, and the agency continues to pursue additional institutions in 10 pending lawsuits.